The USDC Treasury destroyed nearly 100 million USDC on the Solana blockchain and minted an equivalent amount of USDC on the Ethereum blockchain.

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PANews reported on December 29th that, according to Whale Alert, the USDC Treasury burned 98,469,098 USDC on the Solana blockchain, worth approximately $98,547,873. Subsequently, the USDC Treasury minted 98,469,098 new USDC on the Ethereum blockchain, worth approximately $98,557,720. This appears to be a blockchain swap operation.

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